110k these days is the 50k of 20 years ago. If you have kids and nice things in a decent metro neighborhood, 110k will barely cut it
Especially with the fast rising costs of essentials. The younger folks probably don’t understand inflation. Until they wonder why their grocery bill seems higher every store visit. They will learn the hard way.
When those in charge think they can throw huge amounts of cash at everything, that should tell us they believe the dollar is worthless.
The key point is where you live, if you live in New Yok City, LA, Chicago, Dallas, 110K will get you an apartment and a mediocre car these days. Hell apartments here in Tulsa have gone through the roof.
$110K in New York City won't buy you a parking space!
Very correct.
The majority of folks making $110k are still living pay check to pay check with little to no savings just like those who make less. A bigger pay check doesn't necessarily mean sound financial skills unfortunately. I know of folks who make over 200k a year, up to their a$$ in debt, live pay check to pay check, have no savings and are stressed and depressed and think that if it weren't for taxes and the IRS they would be just fine lol. Doubtful.
I’ll bet if they sold that $300,000 home they live in that eats half their spendable income, sell the Beemer and Mercedes they “must” have, eat meals at home, and downsize to a more moderately priced older home they could live just fine.
It’s really not hard to live within ones means if they don’t have the need to impress those around them.
Sadly I know folks just like you that project the illusion of wealth while not being wealthy.
Depends on where you’re at.
For a large part of the population a 300k dollar house is a borderline tarpaper shack.
You assume there are alternatives, that’s a mistake. Consider yourself lucky to be here.
I’ve already commented in this thread about regional differences in the cost of living brought on by geographic location.
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